Sportsbook Scams
Estimates show that sportsbook scams have turned into a multimillion-dollar business. This make schemes more and more sophisticated.
While authorities continue to crackdown on these unscrupulous scammers, we should equip ourselves with the knowledge on how so spot these sportsbook scams and stay away from them.
Scam Sportsbooks
Scam sportsbooks, otherwise known as deposit only sportsbooks, sprung up usually during the football season. These online sportsbooks have no intention of making payouts but do everything to get you to deposit your money. So look for the online sprotsbook's address or phone number. Call them and ask for their address. If they do not readily give you a valid address, consider them suspect and do further research before making a deposit.
Too Large Bonuses
Remember the saying: "if it looks too good to be true, it probably is."
Offering very large bonuses is a very common tactic of new online sportsbooks to attract players to register. This is a flawed business model since it eventually leads to financial troubles, slow/no-pay disputes and closure. Also beware of offers that combine High Bonuses with Reduced Juice, or Lines (odds) that are way out there. Obscure or soft lines can only mean one of two things: a lack of volume or that the book itself is gambling on events.
Scam Calls
Have you ever gotten a call asking you to deposit your hard-earned money into an online sportsbook? Did they try to bully you? Did they try to charm you? Did they pressure you into signing-up and making that deposit? In many cases of scam telemarketing, the scammer usually makes a single high-pressure call requiring you to immediate decide on making a deposit. Watch out for these calls. If you are interested on a promotion over the phone, have written information be sent to you before deciding to make a deposit.